Stewart, a former IndyCar champion, has said he has put the Indy 500 in his rearview mirror. But this is Roger Penske we’re talking about — the team owner who has won the Indy 500 15 times.

So should Stewart do it?

Here’s five reasons why he should, and why he should not:

Why he should

1. He has never won the Indy 500

Stewart, 41, grew up in Indiana. He has dreamed of winning the Indy 500 his entire life.

Remember how emotional he was when he won NASCAR’s Brickyard 400 for the first time? The emotions would be 10 times greater if he won the Indy 500.

He has competed in the event five times, including twice doing the Indy-Charlotte double. His best finish was fifth in 1997. He was ninth and sixth at Indy in 1999 and 2001, when he also ran the Coca-Cola 600 on the same day.

Stewart has won just about everything he can in racing except for the Daytona 500 and Indy 500. This would be a bucket list moment.

2. Buzz for NASCAR

If Stewart does the double, it would create significant buzz for NASCAR and IndyCar.

In the weeks leading up to the race, Stewart's attempt would garner significant interest and be one of the main story lines for Memorial Day weekend. It would give race fans another reason to watch the Charlotte race after watching the Indy 500.

People would want to see how Stewart does in the second half of the double — first whether he makes it to Charlotte on time for the start and then how he actually performs.

He doesn't have to win Indy to generate that interest. Even the casual NASCAR fan will want to see if racing at Indy impacts Stewart's NASCAR performance.

3. Penske + Chevrolet = Good Chance

This will be a great opportunity for Stewart to have a solid car with a top team and manufacturer.

Penske can self-fund the effort, even if a sponsor can’t be found. It’s likely a sponsor would back such a high-profile effort, however, and Penske no doubt would spare no expense.

4. It would be fun

By the time the year is over, Stewart will have run 95 races this year in a variety of cars and series.

So it’s not like he isn’t used to racing in something else while also racing in NASCAR.

Winning the Indy 500 would make him the only driver to win in both NASCAR and IndyCar at the historic track.

Racing is Stewart’s passion, and while he often can be anonymous at a short track compared to the attention he would get at Indy, just getting behind the wheel of the car will make him happy.

5. Show him the money

It’s likely sponsors would sign on for it, and Stewart could use the exposure to add value to sponsors at Stewart-Haas Racing.

As a team owner and a racetrack owner, Stewart can use as much money as he can get. Running both races would increase his stature and could increase his value to potential sponsors.

And if he actually wins the Indianapolis 500, companies who want him for personal endorsements would come at him with either suitcases of cash or blank checks.

Why he shouldn’t do it

1. He can’t risk missing Chase

A driver can miss a race and still make the Chase for the Sprint Cup by finishing in the top 10 in points or by earning a wild card by winning races. So taking a chance on missing the Charlotte race by not making it back on time is not a huge risk.

But it’s still something he really can’t ignore.

If Stewart already had three wins by then, it wouldn’t be a problem at all. But he’s not going to know that at the time he makes his decision.

His NASCAR sponsors pay him big money to compete for the Cup championship. If for some reason he can’t get back in time for the start of the Coca-Cola 600 and then misses the Chase because of it, it would be painful to stomach.

2. Not enough prep time

Even if he were racing for Penske, Stewart would have little time to work another race weekend with the crew he would work with at Indy. He would have no time to run another race to be prepared for how things are done in IndyCar.

He hasn’t raced one of those cars in 12 years.

That’s not to mention the time Stewart likely would need to drop the weight needed to get into one of those cars. The hefty Stewart likely would have to lose 20-30 pounds.

3. It only benefits him if he wins

Running well won’t be good enough. Leading going into the final lap won’t be good enough. Finishing second by milliseconds won’t be good enough.

The only thing good enough would be winning the race.

And even if he runs a great race and has a great car, it’s far from a guarantee he will win.

4. He’d have to let Danica do it

Stewart-Haas Racing apparently encouraged former IndyCar star Danica Patrick not to do the double in 2013 because of the attention it would require from her and attract from the media.

If Stewart runs the double again, his argument against Patrick not doing it could be seen as hypocritical. In fact, it could be argued that this year would be the best year for Patrick to do it because, as a rookie, it’s unlikely she will be in contention to compete for a spot in the Chase anyway.

5. If things go bad, he’d be surly for weeks

If it doesn’t work out, Stewart will be angry and frustrated.

And an angry and frustrated Stewart is not fun to be around. It would bring down his NASCAR crew and could throw him into a funk that could last for weeks and sap whatever momentum his NASCAR team has built early in the year.

So not only could the race impact his results in the Coca-Cola 600, it could impact his NASCAR results for weeks to come.